Analysts predict that DURECT Co. (NASDAQ:DRRX) will announce $10.38 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for DURECT’s earnings. The highest sales estimate is $19.45 million and the lowest is $4.80 million. DURECT posted sales of $3.63 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 186%. The business is scheduled to announce its next quarterly earnings report on Thursday, March 5th.

According to Zacks, analysts expect that DURECT will report full-year sales of $28.57 million for the current fiscal year, with estimates ranging from $23.68 million to $38.33 million. For the next fiscal year, analysts forecast that the firm will post sales of $29.12 million, with estimates ranging from $24.39 million to $35.37 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow DURECT.

DURECT (NASDAQ:DRRX) last posted its earnings results on Monday, November 4th. The specialty pharmaceutical company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). DURECT had a negative net margin of 105.07% and a negative return on equity of 123.90%. The firm had revenue of $10.76 million during the quarter, compared to analysts’ expectations of $7.78 million.

A number of equities research analysts recently issued reports on the company. HC Wainwright set a $3.50 target price on DURECT and gave the company a “buy” rating in a research note on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of DURECT in a research note on Thursday, October 17th. BidaskClub raised DURECT from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. ValuEngine lowered DURECT from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their target price on DURECT from $1.50 to $2.10 and gave the company a “hold” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. DURECT presently has a consensus rating of “Buy” and a consensus price target of $3.53.

DURECT stock opened at $1.90 on Friday. DURECT has a fifty-two week low of $0.46 and a fifty-two week high of $2.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.92 and a current ratio of 4.26. The stock has a 50-day simple moving average of $1.92 and a 200-day simple moving average of $1.20. The company has a market capitalization of $364.69 million, a P/E ratio of -11.88 and a beta of 1.77.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goelzer Investment Management Inc. acquired a new stake in shares of DURECT during the second quarter valued at about $26,000. Tocqueville Asset Management L.P. grew its position in DURECT by 5.9% in the second quarter. Tocqueville Asset Management L.P. now owns 1,100,218 shares of the specialty pharmaceutical company’s stock worth $717,000 after buying an additional 61,500 shares during the last quarter. Acadian Asset Management LLC grew its position in DURECT by 16.9% in the second quarter. Acadian Asset Management LLC now owns 1,080,352 shares of the specialty pharmaceutical company’s stock worth $705,000 after buying an additional 155,833 shares during the last quarter. Renaissance Technologies LLC grew its position in DURECT by 5.3% in the second quarter. Renaissance Technologies LLC now owns 3,207,892 shares of the specialty pharmaceutical company’s stock worth $2,092,000 after buying an additional 161,800 shares during the last quarter. Finally, Gagnon Securities LLC grew its position in DURECT by 22.5% in the second quarter. Gagnon Securities LLC now owns 1,684,186 shares of the specialty pharmaceutical company’s stock worth $1,098,000 after buying an additional 309,648 shares during the last quarter. Hedge funds and other institutional investors own 45.46% of the company’s stock.

About DURECT

DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and pharmaceutical programs. The company offers ALZET product line that consists of osmotic pumps and accessories used for experimental research in mice, rats, and other laboratory animals; and a range of biodegradable polymers for pharmaceutical and medical device clients for use as raw materials in their products under the LACTEL brand.

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Earnings History and Estimates for DURECT (NASDAQ:DRRX)

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